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Anheuser-Busch InBev SA/NV (NYSE:BUD) will be reporting its second-quarter earnings on Aug 1. Wall Street expects 87 cents in EPS and $13.6 billion in revenues as the company reports before market hours.
The stock is up 3.73% over the past year, down 6.30% YTD.
Let’s look at what the charts indicate for Anheuser-Busch stock, and how the stock currently maps against Wall Street estimates.
Chart created using Benzinga Pro
Anheuser-Busch stock appears to be heading towards a Death Cross, a bearish technical pattern where the 50-day simple moving average (SMA) is poised to cross below the 200-day SMA.
Chart created using Benzinga Pro
This pattern often signals a potential for further downside in the stock. Currently, BUD's stock price of $60.55 is trading below the 50-day SMA of $61.67 and the 200-day SMA of $61.05, reinforcing the bearish outlook.
Chart created using Benzinga Pro
While the 20-day SMA of $60.01 and the MACD indicator at 0.01 provide some bullish signals, the stock’s RSI of 50.08 indicates that it is neither overbought or overbought.
Additionally, the Bollinger Bands’ upper limit at $60.89 indicates potential selling pressure.
As BUD stock approaches this critical technical juncture, investors should be cautious of the anticipated bearish momentum and consider potential risks associated with the death cross.
Read Also: AB InBev’s Plans on Track: Can It Retain Momentum?
Ratings & Consensus Estimates: The consensus analyst rating on Anheuser-Busch stock stands at Overweight currently with a price target of $71.70. Recent analyst ratings from Morgan Stanley, TD Cowen, and Jefferies imply a 15.58% upside for Anheuser-Busch InBev SA/NV, with an average price target of $69.83.
BUD Price Action: Anheuser-Busch stock was trading at $60.42 at the time of publication.
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Photo: Shutterstock
Posted In: BUD
